In the midst of a strategic phase that has the bank taking steps to become a top ten bank in Indonesia as well as an Asian Regional Player; Bank Muamalat in 2014 has sought to actively expand its branch network and distribution channels. Not limiting this expansion strategy to the development of its services network, Bank Muamalat also intends to relocate its head office to a new building set for completion in December 2014. In celebration of the final beam’s placement on the top floor of the new Muamalat Tower, Bank Muamalat on 18th June 2014 hosted a Topping Off ceremony at the construction site.

The Muamalat Tower is located on Jalan Prof. Dr. Satrio, ideally placed in the Central Business District and in close proximity to major centres of commercial activity such as Kuningan City Mall. Unlike the bank’s existing head office, the new 21 floor, 24,069 m2 building is owned by Bank Muamalat; thereby offering advantages elucidated upon by President Director Mr Arviyan Arifin in his remarks at the Topping Off ceremony. “With headquarters in our own building, we can save costs on leasing office space. The completion of the Muamalat Tower will create value for shareholders and at the same time raise Bank Muamalat’s image in the public eye as a modern and professional Islamic bank,” he said.

In addition to the advantages mentioned above, the Muamalat Tower is expected to meet Bank Muamalat’s growing office space needs for at least the next five years, projected to reach 20,000 m2 during this time frame. The new head office will also centralize the bank’s operations in a single building, in that several Bank Muamalat departments are currently dispersed across Jakarta.  Bank Muamalat thus expects to benefit from a rise in productivity and efficiency upon moving to the integrated facilities at Muamalat Tower. With construction set for completion by the end of 2014, the bank expects to finalize its relocation process by mid-2015. In the meantime, Bank Muamalat will push forward with its plans to add 53 units to its branch and cash office network, as well as open a further 50 mobile branches and 1,000 ATMs across Indonesia over the course of 2014.